SPEND Reaches A New Milestone With Launch Of A Seamless Payment Wallet
SPEND Reaches A New Milestone With The Launch Of A Seamless Payment Wallet
SPEND; the fast-growing crypto Fintech Company has announced the launch of its banking wallet application for crypto payments within the industry. As from the announcement, clients using SPEND in Canada will be able to sign up for the new Spend Wallet and order their Spend Visa Card. Customers in the US should also be able to sign up for and Spend wallet, as well as register for the Spend Visa Card's “Lend By Spend” option.
Bryan Woods, President of SPEND, took time to express his enthusiasm at the new offering brought forward by the seamless wallet that accommodates both fiat and cryptocurrencies.
“We are thrilled to be offering this degree of simplicity and flexibility to holders of crypto and other currencies. Unlike wallet apps that require users to undertake multiple transactions to fund a prepaid card before completing a purchase, Spend users choose a fund source and tap their Spend Visa Card.”
The Spend Wallet app allows users to exchange any of the supported cryptocurrency with another, trade the virtual currencies through a linked bank account and securely send funds across over 180 countries and more.
“All of the hard work happens behind the scenes, giving a seamless user experience,” he adds.
The Spend Wallet App
The apparent introduction of the new wallet by Spend is in line with the firm's goal to offer users a multi-currency digital wallet with instant conversion capabilities. Users can further preload their local fiat currencies used at the point of sale (POS) through the Spend Visa Card. A simple “tap” allows for one to use their Spend Visa Card and spend their fiat currency at any point that Visa cards are accepted.
The Spend wallet app achieves such capabilities through its proprietary conversion system that undertakes the conversion process. The Spend Authorization Engine or SAE enable the conversion of crypto funds to the user's legal tender of choice before making a purchase. The system combines with the capabilities of Visa's global payment network and the Spend Visa card to allow for a tap payment services.
Aside from the launch, Spend has also announced a new venture to allow users in select regions to access loans directly through the Spend wallet. The users will get the ability through the “Lend by Spend” program, with all funds available for spending on the Spend Visa Card. Such a declaration provides the US customers with the convenience of a Virtual Visa Card for seamless use.
Spend is a crypto fintech startup created back in 2017 with the goal of creating a digital banking and financial solution system for users worldwide. Its multi-currency digital wallet enables users to access a range of financial services, tools and spend their funds. The “Lend by Spend” program allows for Spend users to utilize their crypto assets without having to sell the asset. Clients will be able to collateralize their short-term loans against their cryptocurrency funds such as Bitcoin. The system allows for an 80% Loan-To-Market Value (LVTM) against any digital asset.